UK last-mile industrial warehouse investor Warehouse REIT is buying a £35m (€40.7m) asset in a forward funding deal.
The listed company said it has agreed to buy a 170,000sqft multi-let industrial development in Thame, Oxfordshire. The project, on a 10.6-acre site, comprises 14 units ranging in size from 3,000sqft to 50,000 sqft.
A partnership between W Lamb, Blakelands and Westhall Estates will be responsible for delivering the scheme under a fixed price turnkey contract.
Andrew Bird, managing director of the investment advisor, Tilstone Partners, said: “This is a rare opportunity to acquire what we consider will be one of the most sustainable multi-let warehouse schemes in the Oxford area, with strong day one income guaranteed and the potential to drive rents further over the short, medium and long term.
“Agreeing a fixed price basis for the funding with a very well-respected established development team, combined with our ability to drive the letting on-site, furthers the transaction’s appeal.
“The acquisition continues the company’s stated strategy of increasing its exposure to the Oxford/Cambridge Arc, where we have increasingly deep expertise and relationships, providing a good opportunity to enhance returns through increasingly favourable supply and demand dynamics, driven by the pre-eminence of this leading innovation and employment hub.”
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